Arista Networks Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	3,511	2,852	2,087	1,352	840.85
Depreciation & Amortization	72.6	62	70.6	62.7	50.33
Loss (Gain) From Sale of Investments	-	-	-	12.77	26.85
Stock-Based Compensation	439.2	355.4	296.8	230.93	186.88
Other Operating Activities	-339.1	-546.5	-404.8	-253.21	-82.18
Change in Accounts Receivable	-746.4	-106.1	-105.9	-401.95	-126.97
Change in Inventory	-412.5	110.6	-655.5	-638.95	-170.45
Change in Accounts Payable	260.5	-51.6	198.6	31.44	66.68
Change in Unearned Revenue	2,452	1,285	465	98.96	278.49
Change in Income Taxes	-47.8	-66.5	20.2	44.03	-2.59
Change in Other Net Operating Assets	-818	-186.4	61.7	-46.34	-52.04
Operating Cash Flow	4,372	3,708	2,034	492.81	1,016
Operating Cash Flow Growth	17.90%	82.31%	312.73%	-51.49%	38.19%
Capital Expenditures	-119.5	-32	-34.4	-44.64	-64.74
Cash Acquisitions	-300	-	1.8	-145.09	1.3
Investment in Securities	-3,172	-2,419	-651.7	418.75	-862.13
Other Investing Activities	14.9	-6.6	-3.2	-12.69	-
Investing Cash Flow	-3,576	-2,457	-687.5	216.33	-925.56
Issuance of Common Stock	57.7	60.2	62.1	48.41	67.25
Repurchase of Common Stock	-1,654	-482	-145.9	-703.01	-428.13
Financing Cash Flow	-1,596	-421.8	-83.8	-654.6	-360.88
Foreign Exchange Rate Adjustments	1.7	-4.8	0.8	-3.61	-1.82
Net Cash Flow	-798.5	824.3	1,264	50.93	-272.4
Free Cash Flow	4,252	3,676	2,000	448.17	951.12
Free Cash Flow Growth	15.67%	83.85%	346.17%	-52.88%	32.15%
Free Cash Flow Margin	47.22%	52.49%	34.12%	10.23%	32.26%
Free Cash Flow Per Share	3.33	2.87	1.58	0.35	0.74
Cash Income Tax Paid	1,096	970.6	686.2	427.85	189.77
Levered Free Cash Flow	3,388	2,844	1,503	264.9	649.26
Unlevered Free Cash Flow	3,388	2,844	1,503	264.9	649.26
Change in Working Capital	687.8	985.2	-15.9	-912.82	-6.88

Source: S&P Global Market Intelligence. Standard template. Financial Sources.